Notice of Public Hearing to be Held on April 18, 2023

NOTICE OF PUBLIC HEARING

 

Notice of PUBLIC HEARING TO BE HELD BY THE RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION CONCERNING THE REFINANCING OF a PROJECT FOR THE learning community charter SCHOOL, INC. IN CENTRAL FALLS, RHODE ISLAND.  Notice is hereby given that the Rhode Island Health and Educational Building Corporation (the “Corporation”) will hold a public hearing on April 18, 2023 at 10:00 a.m. The Corporation hereby notifies interested persons that the public hearing will be held via teleconference in lieu of an in-person public hearing. Persons wishing to participate in the hearing may attend by teleconference by using the toll free telephone number and passcode listed below:

          Dial-in:  (866) 528-2256 (toll free)

          Participant Code:  5962298#

 

The purpose of the hearing will be to consider the issuance of qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”) by the Corporation in a maximum aggregate principal amount not to exceed $3,000,000 (the “Bonds”), for a project owned by The Learning Community Charter School, Inc., a Rhode Island nonprofit corporation (the “Institution”). The proceeds of the Bonds will be used by the Institution to (a) refund the Corporation’s outstanding Educational Institution Revenue Bonds (The Learning Community Charter School, Inc. Issue – Series 2007) (the “2007 Bonds”), the proceeds of which were used to finance and refinance the acquisition, construction, renovation, improvement, furnishing and equipping of the Institution’s charter school facility located at 21 Lincoln Avenue, Central Falls, Rhode Island and the costs of issuance of the 2007 Bonds, and (b) pay the costs of issuance of the Bonds and the Corporation’s administrative fees.

 

The owner and/or operator of the facilities to be refinanced with the proceeds of the Bonds will be the Institution.

 

Neither the State of Rhode Island nor the Corporation is obligated to pay the principal or redemption price of or interest on the Bonds and neither the faith and credit nor the taxing power of the State of Rhode Island or any municipality or political subdivision thereof is pledged to the payment of the Bonds.  The Corporation does not have taxing power.  Interested persons are invited to offer comments and ask questions with regard to the issuance of the above-referenced Bonds and the location and nature of the facilities to be financed and refinanced therewith.  Those requesting interpreter services for the hearing impaired must notify the Corporation (401-831-3770) at least 48 hours in advance of the hearing.

 

Kimberly W. Mooers

Executive Director and Hearing Officer

Rhode Island Health and Educational Building Corporation